 The Senate has decided to have 30% of the profits from the Nigerian National Petroleum Corporation set aside for the search and exploration of crude oil in the north of the country. This is part of the recommendations captured in the Petroleum Industry Bill presented by the Joint Committee on Petroleum Downstream, Upstream and Gas. In February last year, the Minister of States for Petroleum, Timipri Silver, announced the discovery of a billion barrels of oil in northeastern Nigeria. The oil is yet undriiled, but the Senate is seeking to set money aside so that the search for the black gold in the wider northern region can continue. At plenary, the 54-member Joint Committee on Petroleum Downstream, Upstream and Gas, recommended the setting aside of 30% of NNPC's accrued profits towards the search and exploration of crude oil in the northern parts of the country. The committee's chairman, Senator Mohammed Sabu, says this will enable the country to take advantage of threats to the funding of fossil fuel projects. The Joint Committee's recommendation recognizes the need for the country to urgently and aggressively explore and develop the country's frontier business to take advantage of foreseeable threats to the funding of fossil fuel projects across the world due to speedy ship from fossil fuel to other alternative energy sources. To this end, the committee recommends funding mechanisms of 30% of NNPC's limiters share profit and profit gas, as in the production share and profit, and the risk service contract to fund the exploitation of the frontier business. A total of 110 amendments were recommended to this chapter, while others were retained. The Deputy President of the Senate, Senator Ovier Omoagege, on his part is asking that Niger Delta communities be given up to 10% equity shareholding in oil facilities. He also wants the money paid as penalty for gas flaring to be used for the rehabilitation of host communities. Some experts believe that the petroleum industry bill, when passed into law, will attract capital investment to the oil industry. They also say it will strengthen accountability and transparency, but there are skeptics.